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Sygnity fiscal Q1 profit climbs 35.3% YOY

Sygnity SA said its normalized net income for the fiscal first quarter ended Dec. 31, 2015, was 35 groszy per share, an increase of 35.7% from 25 groszy per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 4.0 million zlotys, a gain of 35.3% from 2.9 million zlotys in the year-earlier period.

The normalized profit margin rose to 2.8% from 2.0% in the year-earlier period.

Total revenue decreased year over year to 139.8 million zlotys from 144.1 million zlotys, and total operating expenses decreased year over year to 132.5 million zlotys from 137.5 million zlotys.

Reported net income decreased 17.9% year over year to 3.4 million zlotys, or 30 groszy per share, from 4.1 million zlotys, or 36 groszy per share.

As of Feb. 15, US$1 was equivalent to 3.95 zlotys.